FACTORY SUPPLIES

Bay of Plenty Beacon, Volume 05, Issue 67, 19 June 1942, Page 5

FACTORY SUPPLIES

EXTRAORDINARY GENERAL MEETING DEFERRED BONUS DATE An extraordinary general meeting of suppliers to the' Rangitaiki Plains Dairy Company will be held at the new Edgecumbe Hall, on Wednesday. July 5. The purpose of the meeting is to ascertain whether the Dairy Company shareholders desire to alter the Articles of Association so as to enable the directors to apportion the returns from the three contributing sources (the Butter Factory, Cheese Factory and the Opouriao Factory on account of Rangitaiki suppliers temporarily transferred) in such a manner as to spread any loss or gain attached to the additional cheese supply effort as equitably as possible. Should the proposed resolution be passed in its present form the company's final Deferred Payment or Bonus would not be made until the 20th September each year. This delay of one month in making the final distribution would be necessary to •enable the suppliers to study the balance sheet and manufacturing and marketing accounts for both butter and cheese factories at the annual general meeting in August of each year before making a recommendation to the directors as to how the final payment should be apportioned. The feeling at previous meetings has been that the Rangitaiki Plains Dairy Company is a iruly co-operative concern and butter and cheese suppliers stand shoulder to shoulder in an effort to ensure that all sections of the comnany's suppliers share equitably any special burden which the Government will not stand on behalf of the dairy industry and which, owing to a war efTort, must be faced.